Fortunestown Shopping Centre, Dublin 24

Sale Type: For Sale by Private Treaty
Overall Floor Area: 714 m²
Cushman & Wakefield appointed to sell Fortunestown Shopping Centre, a fully let neighbourhood retail investment in southwest Dublin.

Property Highlights

- Fully let neighbourhood retail centre providing secure, long-term income.

- WAULT of 10 years to expiry and 8 years to break.

- Anchored by Supervalu (sold off on a long leasehold basis) the scheme comprises a further 7 convenience-focused retail units extending to 7,688 sq. ft.

- Situated in a densely populated suburb in southwest Dublin, 1.5km west of Tallaght Town Centre and 1.5km southeast of Citywest Business Campus.

- Established national and international occupiers in Ladbrokes and Hickeys Pharmacy, complemented by long-standing local occupiers.

- Current passing rent of €180,560 per annum.

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Cushman & Wakefield are seeking offers in excess of €1,600,000 reflecting a net initial yield of 10.26%, assuming standard purchaser costs.

Location

Fortunestown Shopping Centre is located in a densely populated commuter suburb approximately 10km southwest of Dublin City Centre. The scheme is 1.5km west of Tallaght Town Centre and 1.5km southeast of Citywest Business Campus . The surrounding area is predominantly residential, with the centre serving as a vital commercial hub for the local community.

In addition to the subject units, the wider centre benefits from strong footfall generated by the adjoining SuperValu, as well as other key draws such as the post office, the Credit Union, and Crough's pub and restaurant. This steady stream of patrons enhances the overall trading environment, supported by consistently high footfall throughout the day.

The area also enjoys an abundance of local amenities including Butler McGee Park, Tallaght Leisure Centre, St. Mark's Celtic Football Club, St. Mark's GAA Club, and numerous educational institutions such as St. Mark's Primary and Secondary Schools and St. Anne's Primary School.

Catchment Overview
Fortunestown Shopping Centre is supported by a substantial catchment of 139,746 people within a 15-minute drive time (Census 2022), offering a strong customer base for retailers. This is underpinned by an estimated total purchasing power of €4.703 billion, or approximately €28,865 per capita. Within a more immediate 15-minute walk-time catchment, the local demographic profile is as follows:

- Population of 9,331 (2022 Census)
- 3,079 families in private households
- 55% Of population aged between 15-59 years
- €157 million in total purchasing power
- €16,905 per capita purchasing power

Description

Fortunestown Shopping Centre comprises the freehold interest in a well-established neighbourhood Centre. The scheme is anchored by SuperValu which has been sold off on a long leasehold basis, but contributes towards service charge and insurance for the centre.

The property includes 7 fully let retail units extending to approximately 7,688 sq ft (714.2 sq m), and benefits from circa 80 surface car parking spaces, on a site of circa 1.29 acres (0.52 ha). The scheme produces a total annual rent of €180,560. Units are well maintained and enjoy strong footfall driven by the significant surrounding residential population.

Occupiers represent a mix of convenience retail and F&B uses. The two largest tenants by income are national and international operators in Hickeys Pharmacy and Ladbrokes, together accounting for c.40% of the total passing rent. The remaining units are occupied by long-standing local tenants, including a newsagent, hair and beauty salon, Chinese takeaway, chip shop, and delicatessen.

BER Ratings range from B3 to F.

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Inspections are by appointment only via the sole agent Cushman & Wakefield

Further information can be found at the data room: fortunestown-sc.com